Bloomberg News

Thailand Stocks: Amata Corp., Pruksa, Quality Houses, Siamgas

February 21, 2012

Feb. 21 (Bloomberg) -- Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of the close in Bangkok.

The SET Index rose for a third day, climbing 0.4 percent to 1,140.39, the highest close since Aug. 1.

Amata Corp. Pcl (AMATA TB), a developer of industrial land, climbed 1.2 percent to 17 baht, the highest close since May 2008. The company plans to sell a record 3,000 rai (1,178 acres) of land in 2012 on rising demand from overseas manufacturers, Chief Operating Officer Viboon Kromadit told investors in Bangkok today.

Pruksa Real Estate Pcl (PS TB), a property developer, fell 5.8 percent to 13.80 baht, the most since Oct. 25. The stock was downgraded to “neutral” from “outperform” by Tareetip Wongsaenpaiboon, an analyst at KGI Securities (Thailand) Pcl, who said there was no sign of a recovery in demand for the company’s residential properties.

Quality Houses Pcl (QH TB), a property developer, jumped 9.8 percent to 1.79 baht, on speculation that a recovery in housing demand and higher profit from its units will bolster earnings. “Sales of residential properties at Quality Houses will rebound strongly after last year, when there was widespread flooding,” Chanpen Sirithanarattanakul, an analyst at DBS Vickers Securities (Thailand) Pcl, said by phone today.

Rayong Purifier Pcl (RPC TB), which distills condensate residue into fuels, dropped 5.1 percent to 1.88 baht, the largest decline since Dec. 27. The company’s auditor has doubts about its ability to continue as a going concern, it said in a regulatory filing yesterday. The stock resumed trading after being suspended yesterday following the auditor’s report.

Siamgas & Petrochemicals Pcl (SGP TB), a supplier of liquefied petroleum gas, climbed 1.3 percent to 16.10 baht, the highest close since Aug. 22. The company expects revenue in 2012 to rise to 50 billion baht ($1.6 billion) from 38 billion baht a year earlier, Thai-language Krungthep Turakij newspaper reported, citing Executive Chairman Worawit Weeraborwornpong. Worawit wasn’t available for comment when called at his office.

--Editors: Richard Frost, Tony Jordan

To contact the reporter on this story: Anuchit Nguyen in Bangkok at anguyen@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


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